---

GOOD MORNING ALL

Yesterday, the Nifty opened flat and gained ground to test the mentioned resistance but could not surpass it. Post noon the Bears took over the reins as all the gains were erased by the end of the day.

For today, the Nifty is expected to open with a negative bias due to global cues. Strong support is at 11260 below which the Nifty can test 11200 level as well. Now till the time 11450 is not taken out the Bears will command the markets.

Keep a close watch on the volatility Index as well.

For the Bank Nifty, strong Resistance is at 23100 below which the bears will rule. On the lower side the next support levels are at 23500 – 23400 which should be tested.